Emre Yumlu 
Panama City Mayor Mayer Mizrachi gave a strong signal about the possible creation of a city-level Bitcoin reserve after meeting with key Bitcoin advocates from El Salvador, Max Keiser and Stacy Herbert.
Mizrachi posted only the words “Bitcoin Reserve” on social media platform X on May 16, shortly after his meeting with Keiser and Herbert. The post drew attention as it came just days before the upcoming 2025 Bitcoin Conference in Las Vegas, where Mizrachi is scheduled to speak.
Bitcoin Reserve 🚀
— Mayer Mizrachi (@Mayer) May 16, 2025
Timing Raises Speculation Ahead of Major Bitcoin Event
The post’s timing, just 11 days before a major global Bitcoin event, has sparked speculation. Mizrachi had previously stated that Bitcoin, Ethereum, Tether, and USDC would be accepted in Panama City once the crypto-to-fiat payment infrastructure is in place.
Legislative Support Needed for Nationwide Adoption
To elevate the idea of a Bitcoin reserve from the city level to the national level, Mizrachi would need to work with Panama’s National Assembly to draft legislation. Currently, there is no indication that such a process has begun.
Recently, U.S. states such as Arizona and New Hampshire have enacted laws supporting Bitcoin reserves. Meanwhile, Ukraine has also reportedly been moving toward recognizing Bitcoin as a national reserve asset.
Focus on Bitcoin Mining and Financial Education
According to Max Keiser, the meeting involved discussions on how Panama and El Salvador could leverage renewable energy sources to enhance their Bitcoin mining operations. Keiser emphasized, “Bitcoin is transforming Central America. El Salvador’s geothermal and Panama’s hydro-electric power will drive the revolution.”
Stacy Herbert added that Panama City would integrate El Salvador’s “What is Money?” financial literacy textbook into its digital library system.
El Salvador’s Influence Continues to Grow
Max Keiser and Stacy Herbert have played a significant role in shaping El Salvador’s Bitcoin strategy. The country holds a Bitcoin reserve of approximately 6,179 BTC, worth nearly $640 million.
Keiser serves as Bitcoin advisor to President Nayib Bukele, while Herbert oversees the country’s Bitcoin Office.
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